Read all posts from ‘Austerity: Less is More?’

With an unemployment rate of around 5%, low inflation, low debt, low interest rates and a ‘AAA’ credit rating, the Australian economy has been the envy of many other developed nations since the global financial crisis (GFC) struck in late 2008.

10-year old Dayana went out onto a balcony which suddenly collapsed. Her blood splattered all over the yard of the “Youth” tuberculosis sanatorium in Simeyz (on Ukraine’s Сrimean peninsula). After five hours of struggle, the doctors declared her dead. Sounds like a cut from a horror movie, doesn’t it? But […]

There is a striking contrast between the breadth and scope of austerity measures in Europe and citizens’ perceptions of them. I recently moderated a debate organized by the Bertelsmann Foundation on what Europe can learn from Latin America in terms of managing a debt crisis. The audience was composed mostly […]

Despite a recent rise in its foreign reserves, Egypt is clearly suffering from an economic crisis as evidenced in its spiralling budget deficit that has now  reached around 12% of GDP. As political instability continues, the crisis persists while the government seeks to stem it by taking loans from various […]

  “Good afternoon, I want to go to Osu, how much?”  “GHS 10.00,” says the taxi driver.” “But that’s almost double the price from this time last year!” “Yes  madame, but the price of fuel has gone up!” After a bit of haggling, I get him to reduce the fare […]